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The Indicator
Last year, the African Continental Free Trade Area (AfCFTA) launched opening up the continent’s 1.3 billion people-strong market. The AfCFTA focuses on increasing intra-African trade which is very low on the continent.
Trade between African countries is limited and is worsened by language barriers and the lack of harmonised payment settlement systems. These challenges are some of the hurdles that the AfCFTA is meant to address.
In addition, the treaty proposes more value addition of resources produced in Africa before exporting them outside the continent. The extractives industry in Africa has suffered immensely from the sale of raw products which denies the continent the opportunity to create jobs that could help address the incessant poverty.
Africa is emerging from the pandemic-induced recession. …
Industries and households in Kenya could soon be out of frequent power interruptions and outages as Kenya Power kicks off live maintenance of power lines.
The programme launched on Monday this week is meant to reduce planned electricity shutdowns, enhance stability of power supply and improve revenue generation.
READ ALSO:How Kenya Power plans to manage electricity tariffs
The launch follows the completion of the pilot phase where more than 70 staff were trained to carry out maintenance of live power lines.
During the pilot phase, eight insulated trucks and three digger derricks were also acquired.
Following the success of the pilot phase, the World Bank has funded the programme to a tune of $20 million (about Ksh2 billion) for procurement of additional insulated trucks, tools and accessories, training of staff in live line maintenance techniques and establishment of a laboratory for testing live line equipment.
READ ALSO:World bank
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Kenya’s Capital Markets Authority (CMA) has for the fifth year been feted as the ‘Most Innovative Capital Markets Regulator in Africa 2019’ by the International Finance Magazine.
This is in recognition of its ongoing efforts to facilitate innovations in the capital market in Kenya, East Africa’s economic powerhouse.
READ ALSO:Another feather on Kenya’s Capital Markets Authority as London applauds
“The Authority is pleased to receive this recognition for the fifth consecutive year from this respected publication, which is a testament to the authority’s commitment to supporting innovation as a catalyst for transformative growth of the capital markets,’ said CMA Chief Executive Paul Muthaura.
At the core of its strategic objectives, CMA aims to leverage technology to drive efficiency in the capital Markets value chain.
“We target to effectively balance robust regulatory and compliance requirements with the objectives of market deepening and growth. This involves consistent evaluation of regulatory approaches …
How Kenya is banning gambling advertising
The Kenyan government has banned outdoor advertisement of gambling as it moves to introduce a raft of new measures to tame growing addiction and expansion of the lucrative multi-billion industry, which has found a strong foothold in Africa.
Advertisement of gambling on all social media platforms has also been banned in Kenya, dealing a blow to gambling firms which have been spending billion—cumulative—on adverts to lure millions into their businesses.
In a notice to betting, lotteries and public gaming license holders dated April 30, the Betting Control and Licensing Board (BCLB) has also banned adverts between 6am and 10pm, which means all adverts on television and radio will run during watershed hours(after 10pm), a move it says is intended to protect consumers from effects of gambling.
“We wish to remind you that gaming is a demerit good and all demerit goods have the potential …
Loans from China closed 2018 at USD6.2 billion (Ksh 627.1 billion)
Kenya will be keen to secure additional funds from China for construction of Phase 2B of the Standard Gauge Railway (SGR), as the World meets for the second Belt and Road Forum for International Cooperation (BRF) in Beijing.
The forum which takes place this week is expected to attract a high number of Heads of States from Africa and across the globe, with thousands of delegates from over 100 countries.
President Uhuru Kenyatta’s administration is seeking a Ksh370 billion (USD 3.67 billion) loan to extend the rail project which is currently at its second phase of construction (Nairobi-Naivasha).
Phase one of the project, 472 kilometre Mombasa —Nairobi line, is currently operational having been completed and commissioned by President Kenyatta on May 31, 2017.
It was constructed by China Road and Bridge Corporation (CRBC) on a Ksh327 billion (USD3.2 billion) …
The indicator in question in this column is figure 17.6.
17.6 of what?
According to published government statistics, the median weighted average age of an East African citizen is 17.6 years old. Among the 157 million East Africans alive today there are equal numbers of people over 17.6 years old as there are people under 17.6 years old.
So how do 17.6 years as a median age compare to other locales around the world?
If the EAC were a country it would be the 13th youngest country in the world with Uganda, Burundi, and Tanzania bringing down the weighted average against the relatively older Kenya. To add perspective, the median age of both the #1 and #2 economies of the USA and China are more than twice as old at 37.8 years and 36.8 years respectively than an East African. Even more dramatic, ageing Japan has 46.5 years as median …
The government expects private sector to contribute 60% of the development
International property developers are angling themselves to tap into the housing projects in Kenya’s Big Four Agenda, a boost to President Uhuru Kenyatta’s ambition to deliver 500,000 units by 2022.
This came out at the sixth East Africa Property Investment Summit (EAPI) held in Nairobi this week, where the government called on the private sector to support the projects, assuring them of offtake.
An offtake assurance or agreement is a commitment between a producer and a buyer to purchase or sell portions of the producer’s future production.
“We want to assure the developers that whatever they build, we will buy,” Charles Hinga, Kenya’s Principal Secretary -State Department of Housing and Urban Development.
He spoke during the event which saw Nairobi host some of the largest international and regional developers and financial investors such as USA’s Echostone housing, South Africa’s …
